Tag Archives: Currency

FOR IMMEDIATE RELEASE:
Portsmouth, NH – The Seacoast Repertory Theatre’s bitcoin vending machine now offers Dash. The founder of Portsmouth-based digital currency company AnyPay, Steven Zeiler, says “Dash is newer than bitcoin and is more widely used on the Seacoast. Dash offers faster confirmation times and greater privacy than bitcoin.”

Bitcoin has been a popular digital currency in New Hampshire for years. Because of its recent rise in use worldwide, the fees for sending payments have increased significantly — from about 5 cents per transaction a few years ago to about $3 per transaction today. “This is great for large companies sending millions of dollars across the world instantly,” says Zeiler. “$3 is a real bargain compared to what they currently pay. But everyday bitcoin users accustomed to buying a $2 coffee with bitcoin are unwilling to spend an extra $3 just to use the digital currency.” This created an opportunity for new digital currencies to enter the market and specialize in faster payments and lower fees.

Seacoast residents have been using Dash for about a year, buying everything from soaps and salad dressing to haircuts and bacon. Some even offer a discount for customers who pay with Dash. But getting it was always a problem. Users needed to have bitcoin first, or trade a good or service to get Dash. Zeiler says, “Until now, it was only possible to get Dash in exchange for another digital currency. Now people can retire their dirty old federal reserve notes into the machine where they’ll be shredded. Just kidding.”

The price of one Dash is currently just under $200. Users can also buy bitcoin from the machine for under $3,000. Digital currencies offer users a way to hide their money from the government and buy things that would otherwise be impossible to purchase like high-quality lab-tested recreational drugs. New Hampshire governor Chris Sununu signed legislation this week extending protection to businesses that use digital currency from regulation, making it the most cryptocurrecy-friendly state in the nation.

The bitcoin vending machine is located to the left of the box office inside the Seacoast Repertory Theatre at 125 Bow St in Portsmouth, New Hampshire. The Seacoast Rep accepts bitcoin for tickets to their live performances.

It’s beautiful and simple, yet transformative. Convert paper currency into cryptocurrency with a single button. Spend it in the bar, diner, or dozens of other bitcoin-accepting businesses in Manchester. Check it out at Murphy’s Taproom today!

A reporter named Golan, from a blog called New Digital Money wanted to interview me regarding this year’s prospects for bitcoin. Here is a copy of my responses to his questions:

1. What will 2014 be for cryptocurrencies?

2014 will be a defining year for crypto currencies. The Texas Bitcoin Conference is already kicking off with huge success right now. Techies and investors are talking about ways to innovate bitcoin and make it easier for the masses to use. The BitShares Developer’s Conference in July will be host to another round of super-nerds gathering to compete on projects that use the block chain technology in new and imaginative ways. If I can use an example from recent history, 2014 will be like the year everyone got AOL on dial-up and could suddenly access the internet. The mainstream crowd could now access what was formerly a game for nerds. The nerds will continue to innovate in ways these people can’t see coming, because what they’re building more closely resembles the internet of today, with HTML5. 2014 will see bitcoin come into its own, adopted more into the mainstream, and set the stage for 2015, when people will be ready to embrace block chain technology to solve other real-world problems, such as escrow and encrypted email services.

2. Exchange services help or hurt cryptocurrencies?

Exchange services help crypto-currencies. They provide a market for people to trade for things they want. The more places people can buy and sell what they want, the more liquid the currencies. Liquidity is key for any market. Blockchain.info’s recent acquisition of a Real Time Trading Platform will spell good news for exchanges this year. Hopefully we’ll see a leveling out of the volatility when more price information is aggregated in one place.

3. Are (or will) cryptocurrencies in war with international cooperatives?

Cryptocurrencies are not at war with anyone or any thing. They simply exist as a tool for exchanging value, and people find them useful. War would imply some sort of aggressive force, such as the force required to compel people to pay taxes. No such force exists in any crypto currency created to date. All crypto currencies of which I am aware are traded on a purely voluntary basis. Therefore, the only people who use them are people who believe they are better off for doing so.

4. Is there a way to reassure governments that Bitcoin is not an enemy? If so, how?

I wouldn’t try to reassure governments that bitcoin is not an enemy. It may be, in some respects. It returns control over their money to the people. It gives individuals the freedom to send money to any other individual without being obstructed by laws or borders. Governments exist to control people, and bitcoin gives people an escape from some of those controls. Bitcoin is even more of an existential threat to governments than most people realize because 1) it is a sound currency introduced into a world of doomed fiat currency, and 2) the block chain technology will empower individuals to depend on code rather than individuals. Trust in many traditional ways will become obsolete, and with it, trust in politicians, lawyers, and bankers, too.

5. Who would you like to see (portrait) next to the Bitcoin logo (from any time in history)?

I don’t want to see an person’s face next to the Bitcoin logo. I trust in the soundness of the code and cryptography, not in individuals.

People think that the explosion in the number of “alt-coins” is a bad thing, but I say give me more! Each new alt-coin offers something different, building on the designs of their predecessors, and going through the endless trial and error of serving a market. Do crypto users want digital money with proof of work, or proof of stake? Questions like these may seem technical today, but this is how we describe the different features offered by the different currencies.

Unlike paper money, code-able money is an instrument, a tool that can be upgraded. It can be re-tooled and improved. All of this can be done without anyone having to turn in their old notes and get issued new ones. It’s an entirely new way to think about money, and in some ways, it’s old. It used to be that anyone could issue bank notes and trade them as currency. The banks with solid business practices thrived, while the banks with poor habits or little utility failed. Saying there are too many coins would be worse than saying there are too many flavors of ice cream, it is to cut off the possibility of ever innovating ice-cream into a sandwich or a root-beer float. The next big innovation in blockchain technology will come from experimentation in the alt-coin realm.

What’s not to love about BitCoin? I use them in my daily life to trade for cannabis, car rides, food, or drinks. They’re divisible to the millionth decimal point and are free of transaction fees. Bitcoins are transferable online digitally or in person physically. But how do I get some? I made a video tutorial to guide new users (and a reference guide for the rest of us):